To help curtail environmental damage and protect the rights of the local communities, companies must not only follow government regulations but also employ self-regulation among themselves. Kenneth Yellowe and many other industrialists in Nigeria’s oil producing regions are no exception. Self-regulation can help reduce the environmental impact of the company’s operations and increase benefits received by nearby communities through employment and livelihood projects.
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| Kenneth Yellowe Photo Credit: informafrica.com |
Self-regulation or self-policing is the regulatory actions done by an organization to comply and adhere to its own legal, ethical, and safety standards. This system has many advantages over external regulations, among them giving the company a responsible public image by holding itself accountable for its actions and taking action on its own terms. This is important as it benefits not only the company but also the people holding them responsible.
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| Kenneth Yellowe Photo Credit: six.somerset.gov.uk |
Such action includes the livelihood and educational programmes sponsored by Kenneth Yellowe’s company, Global Energy Group. The company, which runs the first indigenously owned and operated petroleum processing plants in the country, incorporates these to help the local communities educate their younger generations, who would hopefully become part of the workforce for Nigeria’s growing petroleum industry.
It falls upon the companies to provide development aid for the local communities not only through employment but also through livelihood and education. This act of corporate integrity ensures continued development and progress for the region that would benefit not only the communities but also the companies themselves.
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| Kenneth Yellowe Photo Credit: gegroup.com |
More information on Kenneth Yellowe can be accessed on Twitter.
